Cowen Analysts Give Steel Dynamics (STLD) a $43.00 Price Target
Steel Dynamics (NASDAQ:STLD) has been assigned a $43.00 price target by equities researchers at Cowen in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Cowen’s price target suggests a potential upside of 7.90% from the company’s previous close.
A number of other analysts have also recently commented on STLD. Jefferies Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Steel Dynamics in a research report on Thursday, August 31st. Bank of America reaffirmed a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Macquarie initiated coverage on Steel Dynamics in a research note on Wednesday, September 6th. They set a “neutral” rating and a $36.00 price objective for the company. Morgan Stanley lowered Steel Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $45.00 to $33.00 in a research note on Tuesday, September 12th. Finally, Citigroup reduced their price objective on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Steel Dynamics has an average rating of “Buy” and an average price target of $41.70.
Shares of Steel Dynamics (NASDAQ STLD) opened at $39.85 on Monday. Steel Dynamics has a 52-week low of $32.15 and a 52-week high of $41.66. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. The company has a market capitalization of $9,442.54, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.25 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. equities analysts forecast that Steel Dynamics will post 2.67 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Steel Dynamics by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock worth $873,945,000 after buying an additional 611,096 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Steel Dynamics by 9.2% during the 2nd quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after purchasing an additional 1,840,803 shares during the last quarter. Boston Partners boosted its holdings in shares of Steel Dynamics by 3.6% during the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after purchasing an additional 593,498 shares during the last quarter. State Street Corp boosted its holdings in shares of Steel Dynamics by 17.9% during the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after purchasing an additional 1,346,487 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Steel Dynamics by 13.2% during the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares during the last quarter. Institutional investors own 83.45% of the company’s stock.
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Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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